Decision details

RESOLVED: That the report entitled Draft Budget 2020/21 be noted.

RECOMMENDED TO CABINET:

(1)       That the funding forecasts for 2020/21 onwards, and that (especially significant for 2021/22) these will be subject to change be noted;

(2)       That the comments made at the budget workshops, and comment on the inclusion of the revenue savings and investments in the draft budget be noted;

(3)       That comments made at the budget workshops, and comment on the inclusion of the capital investments in the draft budget be noted;

(4)       That the risk in relation to the timing of capital receipts and that this might result in a need to borrow for capital purposes, which would result in additional revenue costs to those already reflected be noted;

(5)       That Council Tax increases for 2020/21 will be in line with the Medium Term Financial Strategy be confirmed; and

(6)       That the funding surplus in 2020/21 be transferred to a funding equalisation reserve be approved.

REASONS FOR RECOMMENDATIONS:

(1)       To ensure that all relevant factors are taken in to consideration when arriving at a proposed budget for 2020/21, to be considered by Full Council on 6 February 2020;

(2)       To ensure that the medium term impacts of decisions are considered, and how a balanced budget will be set for future years.